topic Re: AMEX interest calculation?? in Credit Cards

AMEX interest calculation??

Anonymous — Wed, 30 Nov 2016 22:07:42 GMT

So my 0% interest period is over mid December. I've carried a balance of about $900 just about every month (don't ask). (I've never missed a payment or anything like that). Now that my promotion is ending and there's still a balance, how is the interest calculated? My rate is 22%. What can I expect my balance to be after statement cuts??

Re: AMEX interest calculation??

Anonymous — Wed, 30 Nov 2016 22:52:09 GMT

Interest is not charged retroactively if that's your concern. For an interest charge calculation for your upcoming billing cycle, please dial the number on the back of your card.

Re: AMEX interest calculation??

Anonymous — Thu, 01 Dec 2016 04:12:44 GMT

Just take your APR of 22%, divide it by 12 and you get 0.0183% per month and multiply it by your $900 balance to get $16.50 then add it to your $900.

Each time you pay then take your statement balance and do it again. Close enough.